Three proceed to second round of Sovag run-off sale

The bidding process for Sovag's EUR170mn ($200mn) legacy
book has entered the second round, The Insurance Insider
understands.
According to sources, Catalina, Darag and Enstar were the three
companies that progressed to the second stage, with binding bids
due to be submitted in the next few weeks.
This publication first revealed in July that Sovag was bringing
a legacy book to market as part of a wider restructuring at the
German insurer.
The book holds EUR170mn in gross reserves and...